Follow this Expert Following. 1  People understand what you mean - the suffering and decline takes a toll on the patient and the caregiver - both suffer. How long people with Parkinson's live depends a lot on age and general health. Please try to get some support for yourself and see a doctor for yourself. This long caregiving can cause depression, and that can usually be treated. Also, you likely need some respite care.
Normally, your contributions to a traditional IRA are tax deductible. You may contribute up to $5,000 each year or the amount of your earned income, whichever is less. The limit is $6,000 if you are age 50 or older.
A. You invest money in an IRA, up to the amounts allowable under the tax law. These investments are termed contributions.. In many instances an income tax deduction is available for the tax year for which the funds are contributed. The contributions, as well as the earnings and gains from these contributions, accumulate tax-free until you withdraw the money from the account. You therefore enjoy the ability to generate additional earnings, unreduced by taxes on these earnings, each year the funds remain within the IRA. The withdrawals of the funds from the IRA are termed distributions.. Distributions are subject to income taxation, generally in the year in which you receive them.